Quantuma acquires insolvency specialist Bell Advisory
20 Apr 2020
The acquisition of Bell Advisory marks Top 75 firm’s second deal in a month as Quantuma continues on acquisition trail
20 Apr 2020
Quantuma, ranked 46th in this year’s Accountancy Daily Top 75 Firms survey, has acquired Manchester-based specialist insolvency and advisory firm Bell Advisory.
The move follows last month’s acquirsition of WRI Associates in Glasgow.
Bell Advisory is a small operation with two team members, including founder Gary Bell and Paul Llewellyn, both of whom will join Quantuma as restructuring and insolvency director and manager respectively. It will operate under the Quantuma brand.
Bell and Llewellyn both have a background in advisory work, formal insolvency procedures, as well as solvent restructuring processes.
The pair will continue to be based in their current central Manchester offices until Quantuma finds a larger office in the city. Since opening its first location at No1 Spinningfields in March 2019, Quantuma’s Manchester office has grown its headcount to 14, making it the nationwide firm’s sixth largest office.
Quantuma specialises in forensic accounting, restructuring advisory, debt advisory and investigations.
Rob Parry, office lead for Quantuma Manchester said: ‘When the opportunity occurs to merge with a quality practice with experienced advisers like Gary, then it makes sense to talk.
'In our first year we have had over 90 instructions into the Manchester office, generated through the relationships the team has with the local professional community. The types of instructions have included restructuring advisory assignments on behalf of the stakeholders of a number of businesses operating in the mid-market.
'Our forensic accounting team has also had a strong start, undertaking a range of expert witness and expert determination instructions in commercial disputes, including post transaction and business interruption matters.'
Bell said: 'I have closely followed the growth of the firm both nationally and here in Manchester for some time and have been very impressed. It is business as usual for my team with the added benefit of being able to offer a wider range of advisory services to my introducers, including forensic accounting.'
Founded in 2013, Quantuma has grown to become a £25m practice employing 250 staff. Headquartered in London, the company has offices in Southampton, Marlow, Watford, Brighton, Scotland and Bristol.
In April 2019, the firm merged with Kingsland Business Recovery, which saw it take over offices in Bradford, Birmingham and Nottingham. Quantuma also expanded internationally with new offices in Cyprus and Mauritius, while recently merging with WRI Associates in Glasgow to mark its first presence in Scotland office.
By Philip Smith